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Ling Yue Services Plans Bid for Chengdu, China Land Parcel

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Ling Yue Services (HKG:2165) plans to bid for a residential land parcel in Chengdu, Sichuan province, China, with a starting price of 213.9 million yuan, according to a Monday Hong Kong bourse filing.

The property manager intends to submit its bid on June 23 for the 25,022-square-meter site in Xindu District through a public tender organized by local authorities.

If successful, Ling Yue Services plans to develop the site for commercial and residential use and sell the properties in the market.

The company said the acquisition would be funded through internal resources and is expected to generate investment returns.

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